Ethical Purchasing/Ethical Procurement

Ethical procurement doesn’t always have to cost more. In fact, the current drive to create greater efficiencies in public spending may actually create more opportunities for it (Martin Cooke, ETI Deputy Director).

Information about Ethical Purchasing/Ethical Procurement

Ethics originates from philosophy and refers to common principles associated with appropriate and inappropriate actions, moral duty and behaviour. In a business context, ethics refers to the use of recognised social principles that involve justice and fairness throughout the business relationship and being ethical means following a behaviour perceived as fair by the business community and wider society. For example, being ethical means treating suppliers in a just, fair, honest and fitting manner and preferential treatment or personal buying can be considered unethical. Procurement functions are in control of large budgets, hence it is expected to behave ethically more often than other parts of the organisational group (Monczka et al., 2008).